Riyadh - Sharikat Mubasher: Jadeed, a leading provider of innovative green energy solutions based in Egypt, sets sights on expanding its business in Saudi Arabia within the upcoming period.

The company raised a $1 million funding round and aspires to successfully close it by the end of 2024 to fuel its plans to expand beyond Egypt and provide its services in European markets, Founders Ahmed Tarek and Shereen Dawoud revealed in an interview with FollowICT.

Jadeed further plans to obtain patents in 10 countries and tap into the agricultural and industrial sectors.

By the end of this year, Jadeed aims to expand its network across Egypt from 10 to 15 branches, according to the founders.

Jadeed provides and develops alternative green energy solutions that reduce fuel consumption and carbon dioxide emissions, notably the Green Turbo (hydrogen cell) product that converts water into hydrogen gas and reduces 40% of fuel consumption.